Category Archives: tanzania

Kikwete Impresses

… The Economist (and George Bush)

While still very poor, Tanzania is set for 5.8% GDP growth this year and perhaps 6.7% next. A popular president, former foreign minister Jakaya Kikwete, hopes to build up the country’s sparse infrastructure, expand access to drinking water, and improve agricultural productivity. What’s so different about a president who makes big plans? Just this:

  • Mr Kikwete travels with minimal security.
  • He scrolls through several hundred text messages on his mobile phone each day, most of them from ordinary citizens who have somehow obtained his number. Sometimes he texts back.
  • He is clearheaded on international issues. He is happy to contribute three battalions to a prospective UN peacekeeping force in the Darfur region of Sudan, he says, so long as someone else foots the bill.

(From PSD blog)

But also troubling in the Economist is this article abut a possible threat to tourism at the Kenya coast from unstable elements in neighbouring Somalia.

Half way through 2005

Three companies going through significant times:

EABL
East African Breweries (1/5 of the value Nairobi Stock Exchange) ended its year on June 30th. Looking at its half year numbers, it is on track to have ended the year with 22 billion in sales and a profit before tax of 9 – 10 billion shillings, with beer consumption up over 20% in 2004/5. During the year the company did a 5 for 1 stock split and also got listed on the Dar es Salaam stock exchange in June.

Kenya Airways
Was the first company Kenyan company on the Dar es Salaam, and it can be argued that Tanzanian investors are the ones who kick-started the stunning appreciation of KQ shares. The company started the year at 17 shillings a share, and six months later the shares are at 69 shillings per share, a 300% increase.

Safaricom
All was not rosy despite the super-profits (6.9 billion from sales of 27 billion) that they announced last week. Negotiations will begin on July 12 between the government and Vodaphone over their 1998 shareholders agreement. Despite his desire to continue as MD Michael Joseph’s contract was renewed for only six months, making it likely that Government will push to have a Kenyan MD by year end.